Yesterday
Big banks won’t automatically lower repayments after rate cut
NAB, CBA and ANZ require customers to “opt in” to get a reduction in monthly repayments, as lower interest rates were applied on Friday.
January
Private schools raise fees at three times rate of inflation
For a decade or more, private schools have increased their fees by far more than the CPI. This year is no different, and schools have a range of explanations.
7 revealing charts about wealth in Australia
The generational transfer of wealth in Australia is underway, but younger generations are struggling under the burden of high debts.
December 2024
HECS architect wants student debt ignored when assessing home loans
Bruce Chapman, who created the income-contingent loan system for students, has hit out at the political fiddling the system has faced.
November 2024
Victorian mortgage arrears top other states
Fresh data from ratings agency S&P shows Victoria has the highest rate of home-loan arrears of any Australian states, overtaking Western Australia.
These three scenarios show how HECS debt hits your borrowing capacity
Instead of paying his student loan down faster with extra repayments, this 26-year-old chose to divert his savings to build a house deposit. It paid off.
Greens plan to cancel student debt unfair to poor, says HECS architect
In what looks like an act of one-upmanship, the Greens will promise to cancel all student debt, not just 20 per cent like Labor. Experts say the idea stinks.
$16b uni student debt fix helps men more than women
Those paying tertiary fees will have to wait until at least 2027 for the overhaul, as analysis shows it will assist male graduates erase their liability sooner.
October 2024
How to manage good, bad and dreadful debt
Dreadful debt destroys wealth, and credit cards are top of the list.
September 2024
$30k for honours degree makes switching careers an expensive choice
Older generations are being lumbered with more student debt and for longer as students try to negotiate an irrational and unfair system.
July 2024
Booming Cash Converters revenues point to squeeze on the poor
The ASX-listed pawnbroker told investors the increase was partly tied to “mainstream finance” being “more difficult to access” for many of its customers.
Mortgage cliff turns into ‘a wave’ that is already subsiding
The tailing off of refinancing is fuelling a rosier outlook for housing delinquencies as borrowers come to terms with higher-for-longer interest rates.
Labor reveals personal bankruptcy overhaul
The threshold for involuntary bankruptcy will rise to $20,000 and Attorney-General Mark Dreyfus will also launch consultations for a mini-bankruptcy regime.
How the 50/30/20 budgeting hack can unlock your finances
This straightforward strategy suggests dividing your income into three buckets: needs, wants and financial goals.
May 2024
Lenders creating ‘unnecessary barriers’ for struggling customers: ASIC
With living costs high, ASIC chairman Joe Longo has issued a stern report on bank hardship policies. ABA chief Anna Bligh says processes are being improved.
$300 off every household’s power bill in cost-of-living cash splash
In addition to a tax cut from July 1, every household will receive an electricity bill discount as part of a $7.8 billion cost-of-living package.
CommBank to refi PE-backed logistics giant; Daimler, IFM tip into debt
The new loan comes four years after Allegro Funds, led by deal maker Adrian Loader, paid less than $10 million to acquire Team Global Express.
April 2024
Australian households are world-leaders in interest rate pain: IMF
Variable-rate mortgages and high household debt make Australian consumers highly sensitive to interest rates, the IMF says, but house prices are still rising.
CBA joins banks quietly cutting interest-free days on credit cards
The big banks have all been slowly lifting their rates, while Commonwealth and Westpac have also increased annual fees.
February 2024
WA borrowers struggling the most with home loan repayments: S&P
S&P Global Ratings says mortgagees in the West are 20pc more likely to be behind on repayments.